The IASB has issued proposals that will exempt investment entities from the consolidation requirements in IFRS 10 - Consolidated Financial Statements. This exemption will only apply to entities that qualify as investment entities as defined in the exposure draft and require entities to measure their investments at fair value through profit or loss. A parent of an investment entity may not apply this exemption unless the parent is itself an investment entity. The exposure draft has been issued in South Africa as ED 306 –Investment Entities. The deadline for comment to SAIBA is 19 November 2011.
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